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Remarks By Mário Centeno Following The Eurogroup Meeting Of 5 November 2018

Good evening. We’ve had a long but good meeting today, many topics on the agenda - lots of engagement around the table. We had with an initial stocktake of the draft budgetary plans that were sent to the European Commission in mid-October. We focused on Italy because the Commission has issued an opinion asking the Italian authorities to resubmit a revised draft budgetary plan. While this opinion was a first, a request to resubmit a budget is foreseen by our rules, which the Commission is implementing. It is up for the Eurogroup to have a political discussion. Ministers supported the Commission in its assessment and invited Italy to cooperate closely with the Commission in the preparation of a revised budget that is in line with our fiscal rules. Italy has another week to resubmit its budget. I hope the ongoing constructive dialogue will bear fruits in reassuring European partners and market participants of Italy's commitment to sound public finances.

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